Assessee is\u00a0 engaged in business of newspaper publication\u00a0 Assessment was selected for limited scrutiny on ground that it claimed higher expenditure under head other expenses (OE) as compared to preceding year.\u00a0 Assessing Officer disallowed 20 per cent of expenditure as assessee failed to produce relevant vouchers.\u00a0 Assessee claimed that certain direct expenditure, i.e. composing expenses, ink expenses etc. was wrongly claimed as other expenses. Held that since assessee’s return was selected for scrutiny for limited purpose to verify other expenses\u00a0 claimed in profit and loss account, direct trading expenditure which were wrongly included in other expenses\u00a0 were to be excluded from\u00a0 limited scrutiny.\u00a0\u00a0 Instruction No 4 of 2016 dt 13-7 2016.\u00a0 (AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 143(3) : Assessment-Limited scrutiny-Newspaper publication-Instructions are binding on revenue-Instructions cannot be ultra vires of section 119-Other expenses-Direct trading expenditure which were wrongly included in other expenses are to be excluded form the limited scrutiny. [S. 37(1), 119] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-34061","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8Rn","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=34061"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34061\/revisions"}],"predecessor-version":[{"id":34062,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34061\/revisions\/34062"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=34061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=34061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=34061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}